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Controlling interest in Horsham firm sold for $17.2M

Test-equipment-maker Orbit/fr Inc., of Horsham, today said a controlling interest in the company will be acquired by Santimo, of France, for $17.2 million.

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Test-equipment-maker Orbit/fr Inc., of Horsham, today said a controlling interest in the company will be acquired by Santimo, of France, for $17.2 million.

The deal involves the sale of 3.7 million Orbit shares - 62 percent of shares outstanding - by Orbit-Alchut Technologies Ltd. to Santimo.

The Horsham company, which employs about 100, makes automated microwave test and measurement systems for the aerospace, defense, wireless communication, automotive and satellite industries.